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Canadian Pacific Kansas City Limited (CPKC) (TSX: CP, NYSE: CP) is a Class I railroad operator that emerged from the merger of Canadian Pacific Railway and Kansas City Southern on April 14, 2023. Headquartered in Calgary, Alberta, CPKC is the first and only single-line transnational railway connecting Canada, the United States, and Mexico. With approximately 20,000 route miles, CPKC provides unparalleled rail service, offering freight transportation services, logistics solutions, and supply chain expertise to North American customers.
The merger has greatly expanded CPKC's network, allowing for single-line-haul services from Canada through the upper Midwest down to Texas, the Gulf of Mexico, and into Mexico. CPKC operates roughly 3,300 miles of rail in Mexico and is a significant player in cross-border and intra-Mexico freight transport. The company hauls a diverse mix of products, including grain, intermodal containers, energy products like crude and frac sand, chemicals, plastics, coal, fertilizer and potash, automotive products, and various other merchandise.
CPKC's most recent financial results highlight their strong performance in the fourth quarter of 2023. They reported revenues of $3.8 billion, a diluted earnings per share (EPS) of $1.10, and core adjusted combined diluted EPS of $1.18. The company has led the industry with the lowest frequency of train accidents among Class I railroads for 17 consecutive years. This achievement underscores CPKC's commitment to safety and reliability.
Looking forward to 2024, CPKC is optimistic about leveraging unique synergy opportunities and improving macroeconomic conditions to sustain their growth trajectory. Their dedication to service and safety continues to drive value for customers and shareholders alike. In addition to their operational achievements, CPKC is also involved in community investment programs, such as a notable $1.5 million commitment to the American Heart Association for heart research over the next three years.
CPKC's operational excellence is complemented by their strong financial management and strategic initiatives. They have successfully issued and managed commercial paper programs backed by significant revolving credit facilities. CPKC's acquisition-related costs and financial integration of Kansas City Southern have been managed efficiently, ensuring minimal disruption to their operational performance.
In summary, CPKC stands as a pivotal force in North American rail transport, providing extensive rail service that connects key markets across Canada, the United States, and Mexico. Their continued focus on safety, service excellence, and strategic growth initiatives make them a critical player in the industry.
Kansas City Southern (KSU) has completed its acquisition by Canadian Pacific Railway Limited (CP), valued at approximately USD $31 billion. KSU shareholders will receive 2.884 CP shares and $90 in cash per KSU share, alongside $37.50 for preferred shares. Following the deal, a voting trust has been established, headed by former KCS CEO Dave Starling, ensuring KCS's operational independence until the U.S. Surface Transportation Board approves CP's control. This merger aims to enhance rail competition across North America and unlock future synergies over three years post-approval.
On December 14, 2021, Canadian Pacific Railway (CP) completed its acquisition of Kansas City Southern (KCS) for an enterprise value of approximately US$31 billion. KCS shareholders will receive 2.884 CP shares and US$90 in cash per share. CP has placed KCS shares into a voting trust pending regulatory approval from the U.S. Surface Transportation Board (STB), expected by Q4 2022. For 2021, CP anticipates high single-digit growth in adjusted diluted EPS, while full-year volumes are expected to remain flat. CP issued C$2.2 billion and US$6.7 billion in new debt for the transaction.
Calgary, AB - On Dec. 10, 2021, Canadian Pacific Railway Limited (TSX: CP) announced that shareholders of both CP and Kansas City Southern (KCS) voted in support of the proposed CP-KCS merger. This merger aims to establish the first U.S.-Mexico-Canada rail network. The transaction, valued at approximately $31 billion, includes 2.884 CP shares and $90 in cash for each KCS share held. The deal, which has received unanimous board support, is expected to close on Dec. 14, 2021. Shareholders also await approval from the U.S. Surface Transportation Board (STB), with anticipated completion by Q4 2022.
Kansas City Southern (KSU) announced that 99.6% of shareholders voted in favor of its merger with Canadian Pacific Railway (CP) during a virtual special meeting. The merger will finalize on
On December 8, 2021, Canadian Pacific Railway Limited (CP) announced that shareholders overwhelmingly approved the issuance of shares to Kansas City Southern (KCS) stockholders, marking a significant step towards their merger. The ordinary resolution for up to 277,960,197 CP shares received a 99.91% approval. The merger, with an enterprise value of approximately $31 billion, aims to create a unified rail network across the U.S., Mexico, and Canada. Pending regulatory approvals, the deal may close on December 14, 2021, benefiting economic growth and enhancing transportation options.
Canadian Pacific Railway and Kansas City Southern have secured necessary regulatory approvals from COFECE and IFT for their merger. This milestone will enable the creation of the first single-line rail network across the U.S., Mexico, and Canada, enhancing capacity and competitive options in North American transportation. Stockholder votes are set for December 8 and 10, 2021. If approved, closing is anticipated by December 14, 2021. The Surface Transportation Board's review is expected to conclude by Q4 2022, impacting the future of the combined entity and its operational capabilities.
Canadian Pacific Railway Limited (CP) and Kansas City Southern (KCS) have received necessary regulatory approvals from Mexican authorities for their proposed merger. The combination aims to create a single-line rail network connecting the U.S., Mexico, and Canada, enhancing transportation options and supporting economic growth. Stockholder votes are scheduled for December 8 and 10, 2021, with the deal expected to close shortly after if approved. The Surface Transportation Board's review of the transaction is anticipated to conclude in Q4 2022.
Keith Creel, President and CEO of Canadian Pacific, has been awarded the titles of 2021 CEO of the Year and Strategist of the Year by The Globe and Mail's Report on Business Magazine. This recognition highlights Mr. Creel's leadership, especially in establishing a significant partnership with Kansas City Southern. Since becoming CEO in 2017, he has steered CP towards creating a unified rail network across North America, enhancing transportation options and economic growth. The full profile of Mr. Creel will be featured in the November 27, 2021 issue of the magazine.
Canadian Pacific Railway and Kansas City Southern have announced the completion of their joint merger application, accepted by the Surface Transportation Board. This decision marks a significant milestone for the companies as they work towards a regulatory review. Both leadership teams are optimistic about the merger's capacity to enhance the U.S. rail network, offering competitive transportation options and supporting economic growth. The regulatory review is expected to conclude in the fourth quarter of 2022, aiming to deliver various benefits to customers and stakeholders.
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